RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of December 13, 2019 No. 235

About approval of selection criteria and Rules of consideration of documents for the conclusion of the agreement on implementation of activities within specific mode of regulation

According to the Law of the Republic of Kazakhstan of July 4, 2003 "About state regulation, control and supervision of the financial market and the financial organizations" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the following selection criteria for participation in specific mode of regulation:

1) the applicant is the financial resident organization of the Republic of Kazakhstan and (or) the legal resident person of the Republic of Kazakhstan performing activities in the financial sphere, the activities connected with concentration of financial resources and (or) with payment services, at least 2 (two) years;

2) obligations of the applicant for date of filing of application for participation within specific mode of regulation do not exceed its assets;

3) the applicant has no losses by results of 2 (two) complete financial years;

4) the founder - physical person or the first head of executive body or governing body of the founder - the legal entity of the applicant has no not removed or unspent conviction and (or) concerning them criminal prosecution for criminal offenses in the field of economic activity was not performed;

5) the applicant has for date of filing of application for participation within specific mode of regulation no operating measures of supervising reaction and the sanction applied by authorized body on regulation, control and supervision of the financial market and the financial organizations and (or) National Bank of the Republic of Kazakhstan within their competence;

6) the activities of the applicant planned to implementation within specific mode of regulation correspond to one or several of following conditions:

promotes improvement of competition in the market of financial services;

promotes development of the financial market and corresponds to consumer interests;

promotes increase in geographical and financial availability;

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